Error when running application on windows

I have a application written with Qt 4.7.4 (SDK 1.1.1). It works on Linux. On windows, when I run it from Qt Creator (Ctrl+R) it works but trying to run it from release directory, I'm given this error:
@the procedure entry point _z17qt_message_output9qtmsg TypePKc
could not be located in the dynamic link labrary qtcored4.dll@
What this mean? I also added binary directories of Qt and MingW to system PATH variable.

I guess you added the wrong directory to the path. You probably added the one that is used for Qt's own binaries (QtCreator and frieds), not the one belonging to the version you compiled your application with.